Why Financial Education in Canadian Public Schools Is Necessary
Context: September 18, 2022 – Rent Control Debates in New Brunswick
Recently, some residents in New Brunswick have called for rent control to become a permanent policy in the province. This raises an important issue: purpose-built rental housing in Canada is facing serious challenges, and one of the primary causes is rent control—a more politically palatable term for price control.
When governments interfere with pricing by artificially capping rent, developers lose the incentive to build new purpose-built rental properties. The result? Fewer units, less investment, and worsening supply issues.
Price Controls and Market Consequences
Once a government begins fixing prices, it becomes harder for developers to justify building in that area. That’s simple economics. Meanwhile, the Bank of Canada exists primarily to prevent deflation (falling prices), yet most people overlook the fact that the federal government drives inflation through its spending and policies.
If you look closely at Canadian banknotes, you’ll see the phrase “legal tender,” but you won’t find the word “money.” That’s because what we call “money” today is largely based on government decree, not real stored value.
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Why Prices Rise (It’s Not Just Greedy Landlords)
Are some landlords greedy? Yes. But greed doesn’t create housing shortages—bad government policy does.
If rent control becomes permanent in New Brunswick, private developers will avoid the area, which only deepens the crisis. Even Mary Wilson, the Minister responsible for Service New Brunswick, warned that permanent rent caps would negatively impact rental unit development and investment.
“Implementing rent caps permanently could have a negative impact on the development of additional rental units and slow down investment in the housing sector. For this reason, it was decided to implement this measure temporarily.”
– Mary Wilson
Global News Source
The Bigger Issue: Lack of Financial Education
Many Canadians believe the government can solve all problems through regulation. This mindset stems from a lack of financial education.
People who advocate for rent control are effectively calling for the nationalization of private property—placing rental markets under political control, where prices are determined through public opinion and elections, not economics.
If we truly want more affordable housing, a better question to ask is:
Why doesn’t the government build and maintain rental housing themselves?
The answer is simple for those with financial literacy: government-run housing is inefficient, costly, and politically motivated.
Public vs. Private Sector Incentives
If I were to build rental housing in New Brunswick, I would understand the local market and people far better than a government official. I’d be able to screen tenants, maintain properties responsibly, and price services based on real expenses.
But if the government builds housing, their incentive is political. They’ll aim to appease voters, not manage properties efficiently. Maintenance would be more expensive due to:
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Lack of tenant screening
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Political pressure to accommodate problem tenants
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Use of public-sector workers who may unionize and drive up costs
All of this turns housing into a long-term liability for the government—an expense they must service even when priorities shift.
And if working-class tenants enjoy subsidized rents, they may have no incentive to move out, work more, or pay market prices. This results in:
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Higher costs for government
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Lower tax revenues
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Less housing availability for others
Why Doesn’t the Media Explain This?
Because an educated population requires educated journalists. Unfortunately, most media outlets lean toward one political narrative to serve their audience, often at the expense of facts and economic logic.
This leads to misinformation, and policies that sound good in theory but make the housing crisis worse in practice.
In fact, Mary Wilson gave a clear, accurate explanation of the danger of rent caps—but few seemed to listen. Why? Because financial education is not part of the Canadian public school curriculum.
People assume prices rise because landlords are greedy. But in a true capitalist system, excessive greed gets punished—competition naturally keeps prices in check. When governments become the landlords, costs rise, and efficiency drops, hurting everyone long-term.
Misguided Housing Advocacy
Some renters now want the power to dictate rental prices to private homeowners. This makes current landlords reluctant to rent, reducing housing availability even further.
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Final Thoughts
The root cause of Canada’s rental housing shortage isn’t greed—it’s poor policy and economic illiteracy. You may have been conditioned to believe that government control equals fairness, but in most cases, it leads to inefficiency and higher costs.
Financial education is not about politics. It’s about common sense, long-term thinking, and understanding the true impact of economic decisions. If you’ve never been taught this perspective, now is the time to start learning.
Interesting times ahead.